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EABL's share price surges on Diageo offer to buy more stake

An employee at Keroche Breweries inspects beer production after they resumed operations after their tax row with KRA was resolved. [Antony Gitonga, Standard]

UK's Diageo has offered to buy additional shares in East African Breweries Ltd (EABL) from other shareholders and increase its majority shareholding to 65 per cent.

The company said it had offered to buy 118.39 million shares through Diageo Kenya from other shareholders of EABL at a premium price of Sh192 per share, or Sh22.7 billion for the 118.39 million shares.

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